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  3. Law: Contract(s)

aplicação de sanção de saída compulsória

English translation: compulsory delisting

01:18 Nov 5, 2019
Portuguese to English translations [PRO]
Law/Patents - Law: Contract(s)
Portuguese term or phrase: aplicação de sanção de saída compulsória
A saída da Companhia do Novo Mercado, seja por ato voluntário ou aplicação de sanção de saída compulsória, está condicionada à efetivação de oferta pública de aquisição de ações, no mínimo, pelo Preço Justo das ações, a ser apurado em laudo de avaliação de que trata o art. 55 deste Estatuto, respeitadas as normas legais e regulamentares aplicáveis.
Beatriz Goulart
Brazil
Local time: 15:36
English translation:compulsory delisting
Explanation:
Explanation:
1. Novo Mercado (New Market) is a listing segment of BM&F Bovespa for the trading of shares issued by companies that commit themselves voluntarily to adopt corporate governance practices in addition to those that are required by law.

https://en.wikipedia.org/wiki/Novo_Mercado

2. Delisting refers to the practice of removing the stock of a company from a stock exchange so that investors can no longer trade shares of the stock on that exchange.

https://en.wikipedia.org/wiki/Listing_(finance)

3. The source text is from the Regulamento do Novo Mercado, which provides for voluntary and compulsory delisting from Novo Mercado in Arts. 40 - 44, as follows:
Art. 40
A saída do Novo Mercado pode ocorrer, nos termos das Seções II e
III, em decorrência:
(...)
II do descumprimento de obrigações deste regulamento; e
III do cancelamento de registro de companhia aberta da companhia ou
da conversão de categoria do registro na CVM, hipótese na qual deve
ser observado o disposto na legislação e na regulamentação em vigor.

--------------------------------------------------
Note added at 8 horas (2019-11-05 09:33:57 GMT)
--------------------------------------------------

There is an English language version of the NOVO MERCADO listing regulations at http://www.b3.com.br/data/files/E6/11/48/DC/E0372610D290A226...

Section IV, Subsection III reads as follows:
Subsection III: Compulsory Delisting from Novo Mercado
Art. 58 The sanction of compulsory delisting of the company from Novo
Mercado entails the obligation to hold a delisting PTO pursuant to this regulation.
Art. 59 The sanction of compulsory delisting from Novo Mercado will be
applied only in the event of non-compliance with the obligations stipulated herein
for a period of more than 9 (nine) months.
Art. 60 The notice communicating application of the sanction of compulsory
delisting from Novo Mercado must specify the maximum time granted for
publication of the delisting PTO notice.


Selected response from:

Mark Robertson
Local time: 19:36
Grading comment
Selected automatically based on peer agreement.
4 KudoZ points were awarded for this answer



Summary of answers provided
5 +2compulsory delisting
Mark Robertson
4applicability of a saction of compulsory exclusion
Mario Freitas


  

Answers


3 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5
applicability of a saction of compulsory exclusion


Explanation:
Sugestão

Mario Freitas
Brazil
Local time: 15:36
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 333
Login to enter a peer comment (or grade)

5 hrs   confidence: Answerer confidence 5/5 peer agreement (net): +2
compulsory delisting


Explanation:
Explanation:
1. Novo Mercado (New Market) is a listing segment of BM&F Bovespa for the trading of shares issued by companies that commit themselves voluntarily to adopt corporate governance practices in addition to those that are required by law.

https://en.wikipedia.org/wiki/Novo_Mercado

2. Delisting refers to the practice of removing the stock of a company from a stock exchange so that investors can no longer trade shares of the stock on that exchange.

https://en.wikipedia.org/wiki/Listing_(finance)

3. The source text is from the Regulamento do Novo Mercado, which provides for voluntary and compulsory delisting from Novo Mercado in Arts. 40 - 44, as follows:
Art. 40
A saída do Novo Mercado pode ocorrer, nos termos das Seções II e
III, em decorrência:
(...)
II do descumprimento de obrigações deste regulamento; e
III do cancelamento de registro de companhia aberta da companhia ou
da conversão de categoria do registro na CVM, hipótese na qual deve
ser observado o disposto na legislação e na regulamentação em vigor.

--------------------------------------------------
Note added at 8 horas (2019-11-05 09:33:57 GMT)
--------------------------------------------------

There is an English language version of the NOVO MERCADO listing regulations at http://www.b3.com.br/data/files/E6/11/48/DC/E0372610D290A226...

Section IV, Subsection III reads as follows:
Subsection III: Compulsory Delisting from Novo Mercado
Art. 58 The sanction of compulsory delisting of the company from Novo
Mercado entails the obligation to hold a delisting PTO pursuant to this regulation.
Art. 59 The sanction of compulsory delisting from Novo Mercado will be
applied only in the event of non-compliance with the obligations stipulated herein
for a period of more than 9 (nine) months.
Art. 60 The notice communicating application of the sanction of compulsory
delisting from Novo Mercado must specify the maximum time granted for
publication of the delisting PTO notice.




Mark Robertson
Local time: 19:36
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 506
Grading comment
Selected automatically based on peer agreement.

Peer comments on this answer (and responses from the answerer)
agree  Adrian MM.
1 hr
  -> Thanks Adrian
agree  Charles R. Castleberry
6 hrs
  -> Thank you Charles
Login to enter a peer comment (or grade)



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